Centre to move

VICURBAN has purchased the Grand International function centre in Thomas Street, Dandenong, for $8 million as part of the $290 million Revitalising Central Dandenong project.
The Grand International will relocate to new premises at a location in Dandenong yet to be announced by late 2009.
The latest acquisition is VicUrban’s largest purchase since the Grenda site last year.
A new Grand International will feature a purpose built function and reception centre for Dandenong with the same family business operating it, VicUrban said in a statement.
Urban revitalisation director Michael King said the sale was proof of how well the acquisition process could work.
“We have achieved a great result for the current owners, VicUrban and the Dandenong community,” he said.
VicUrban said that it had worked with the owners to shortlist three potential sites for the location of the new premises within central Dandenong.
“Planning is well advanced and we expect an announcement in the next few months as to the new location,” Mr King said.
“The move to the new premises is expected in late 2009.”
Santino Belmuda, Grand International’s owner and managing director, said he was looking forward to relocating.
“We are keen to remain in Dandenong and servicing our community.
“Over the past 20 years we have developed very loyal customers and we look forward to being able to offer them much improved facilities and amenities,” he said.
The existing Grand International is located at 139-157 Thomas Street, Dandenong.
It will remain as a tenant of VicUrban’s in its current location until the end of September 2009.
An adjoining gaming venue, the DOXA Social Club will also remain as VicUrban’s tenant under the current conditions of its lease.
VicUrban said redevelopment of the site will occur after the Grand International vacates in September 2009 or earlier.
Meanwhile, Cbus Property last week announced it has purchased a 48-hectare parcel of land, formerly the GMH manufacturing site, in Dandenong South for $136.5 million.
Cbus CEO Adrian Pozzo said the land could be transformed into a business park among a range of ideas Cbus was brainstorming.